24. November 2006

CHINA: 700,000-ton Sinopec ethylene project goes into operation

Source: Xinhua, 24 Nov 2006

A large-scale China Petrochemical Corporation
(Sinopec) ethylene project, capable of producing
700,000 tons of ethylene per year, went into operation
on Thursday in Lanzhou, capital of northwest China's
Gansu Province.

With a total investment of nearly seven billion yuan
(about 875 million U.S. dollars), the project boasts
state-of-the-art ethylene production equipment, said
Yu Baocai, general manager of Sinopec's Lanzhou branch.

The project was kicked off in April 2005.

Yu said the new ethylene project will increase branch
sales by ten billion yuan (about 1.3 billion U.S.
dollars) and generate a profit of two billion yuan.

The manager said the project will be a boon for the
textile, clothing, automobile, electronic, building
materials and plastic industries in northwest China.

A fundamental material in petrochemicals, ethylene is
used in the manufacture of various sorts of chemical
products such as plastics, chemical fibre and
synthetic rubber.

The ethylene industry is sometimes considered an
indicator of economic development in a nation or a
region. China produced more than 7.5 million tons of
ethylene in 2005, ranking second in the world after
the United States.

(Syed Rashid Ali)

URL: https://www.gupta-verlag.com/news/industry/3381/china-700000-ton-sinopec-ethylene-project-goes-into-operation